ActiveResidential · sale

54 Rainey St #811

Austin, TX 78701

$349,000

  • 1 beds
  • 1 baths
  • 756 sq ft
  • Built 2005

Listed by Brauman Realty, Inc · MLS #ACT2641435

54 Rainey St #811, Austin, TX 78701 — photo 1 View full photo
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A FEW THINGS TO NOTICE

What stands out.

Living spaces

Located on vibrant Rainey St. with direct access to Lady Bird Lake & Trail, this residence offers a spacious open floor plan, natural light, a balcony looking down on Rainey St. and a reserved parking space in the gated garage.

Details worth a look

Enjoy the best of downtown Austin living in this pristine condo with 1-Bedroom, 1-Bath + Balcony at Milago Condominiums.

Year built

Built in 2005.

Highlights from the listing description and property details. Confirm features with the listing agent.

THE PROPERTY

Get to know the property.

Live ON the lake and trail. Enjoy the best of downtown Austin living in this pristine condo with 1-Bedroom,
1-Bath + Balcony at Milago Condominiums. Located on vibrant Rainey St. with direct access to Lady Bird Lake & Trail, this residence offers a spacious open floor plan, natural light, a balcony looking down on Rainey St. and a reserved parking space in the gated garage. Amenities include a rooftop pool and spa, 2nd floor fitness center and party/club room, and 1st floor lounge looking out to a private patio, the trail and the lake. Top notch concierge service and secure access 24/7. Walk to dining, entertainment, nightlife and outdoor recreation while enjoying a convenient lock-and-leave lifestyle. Milago is the only downtown condo building that is right on Lady Bird Lake and in the popular Rainey Street Historical District.
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THE NEIGHBORHOOD

Explore the location.

54 Rainey St #811, Austin, TX 78701

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LOCAL MARKET CONTEXT

Travis County housing market

See the broader conditions surrounding this property through ERA Brokers Consolidated research.

12-month price trend$505,893Down 1.5% vs. the previous 12 months
Months of supply5.612-month average
Days on market8412-month weighted average

Latest available data: August 2026. Research by ERA Brokers Consolidated.

Explore the full market report

These figures describe the broader reporting area and do not determine this property’s value, condition, availability, or likely sale price.

THE DETAILS

The details, all in one place.

Property type
Residential
Category
Residential
Year built
2005
Full baths
1
Half baths
0
Garage spaces
1
Cooling
Electric
Heating
Electric
Appliances
Free-Standing Electric Oven, Free-Standing Electric Range, Free-Standing Refrigerator, Washer/Dryer Stacked
Flooring
Tile, Wood
Fencing
None
Accessibility
None
Pool features
None
Subdivision
Milago Condo Amd
Parcel
02030313290000
HOA
Milago Condominium
HOA amenities
Common Area Maintenance, Insurance, Landscaping, Maintenance Grounds, Maintenance Structure, Parking, Security
HOA fee frequency
Monthly
Elementary school
Mathews
Middle school
O Henry
High school
Austin
Annual property tax
$6,936.97
HOA fee
$627.00

Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.

OWNERSHIP, WITH A PLAN

Investor outlook.

Explore this property’s rental potential with an all-cash purchase. Monthly rent starts at 5% of the purchase price per year, divided by 12. Adjust it and the other assumptions to explore your scenario.

These are planning assumptions, not a rental appraisal or a loan quote. The starting rent is a price-based estimate; a local leasing professional can help confirm market rent.

Investor outlook assumes an all-cash purchase. No mortgage payment is deducted.

Estimated monthly cash flow · cash purchase$-142.05
Estimated monthly rent$1,454.17
Cap rate-0.24%

Annual operating income: $-832.14

HOA: Includes $627.00 per month in HOA dues, converted from the $627.00 monthly fee reported by the listing source.

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Adjust assumptions
Purchase price
Rental income & operating costs

Purchase price × 5% ÷ 12. Updates with purchase price until you enter a custom rent.

Annual insurance starts at purchase price × 0.25%, rounded to the nearest available amount. Updates with purchase price until you choose another amount.A planning estimate, not an insurance quote. Adjust it for your property and coverage.

Percentages are editable examples, not ERA fee quotes. Management is applied to rent after vacancy; maintenance and capital reserves use scheduled rent. Add owner-paid utilities, mortgage insurance and other recurring expenses under other costs.

How this scenario is calculated

Annual operating income is rent after vacancy, management, maintenance, taxes, insurance, HOA and other operating costs, before financing and capital reserves. Cap rate divides annual operating income by purchase price. Estimated monthly cash flow assumes an all-cash purchase: rent after vacancy, management, maintenance, taxes, insurance, HOA, other operating costs and capital reserves. No mortgage payment is deducted. The mortgage calculator is separate; loan payments would reduce cash flow for a financed purchase. One-time acquisition costs, renovations, income taxes, depreciation and appreciation are excluded.

Mortgage payment calculator

Explore financing separately. These loan settings do not change the all-cash investor outlook.

Mortgage assumptions

20% down and 7% interest are illustrative starting values.

Estimated monthly principal & interest—Loan payment only. Excludes property taxes, homeowners/flood insurance, mortgage insurance and HOA dues.

About this payment estimate

Based on a fixed-rate, fully amortizing loan with monthly payments and the price, down payment, interest rate and term you select. The interest rate is an example, not a current rate offer or APR; APR includes certain loan costs. This is an illustration, not a Loan Estimate, approval, offer of credit or commitment to lend.

Your actual payment, rate and eligibility depend on your lender, credit, loan program and property. Closing costs, points, prepaid expenses and lender fees are not included. Taxes and insurance may change, and mortgage insurance may be required, particularly with a down payment below 20%. Ask your lender for a Loan Estimate and a complete monthly payment including applicable taxes, insurance and fees.

Dollar results are rounded to the nearest cent; calculations retain precision until display. A cash purchase has no loan payment but still has ownership costs. Understand your total home payment (CFPB).

ERA PROPERTY MANAGEMENT

See its potential.
Have a plan for what follows.

Considering this property as a rental? Start with the numbers, then talk through the day-to-day with a local management team.

  1. Understand the opportunity.

    Review rental pricing, property condition and your ownership goals with a local professional.

  2. Make a strong first impression.

    Bring together property preparation, professional marketing and applicant screening.

  3. Stay connected to your investment.

    Get support with rent collection, resident communication, maintenance coordination and owner reporting.

Get a local rental estimateTalk through your management needs
Stone-front home with a landscaped lawn and central entry
A more complete plan for your property

LOCAL PEOPLE. SHARED COMMITMENT.

A team behind your next step.

From your first question to the everyday work of ownership, a conversation with the right person makes a difference.

Meet ERA Property Management

Residential management in Utah, Nevada and Texas. Service availability and rental eligibility must be confirmed for each property. Commercial and association services are available through our management services page.

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54 Rainey St #811, Austin, TX 78701 · MLS #ACT2641435

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Listing information

MLS #ACT2641435 · Austin Board of Realtors

Listing brokerage: Brauman Realty, Inc
Listing agent: Joanne Flynn

Listing status: Active. Record updated . Confirm current availability and price with the listing agent.